BOSTON--(BUSINESS WIRE)--Husk Insulation was named the winner of the $200,000 MIT Clean Energy
Prize, a national student competition founded by the Massachusetts
Institute of Technology, the U.S. Department of Energy and NSTAR to
accelerate the pace of clean energy entrepreneurship.

Husk Insulation’s patented innovation converts plant-based agricultural
waste into thin, high-grade insulation that delivers up to 10 times the
insulative effectiveness of conventional, petroleum-based insulation.
While the insulation has widespread application, the team from the
University of Michigan will initially target the refrigeration industry
because of the product’s potential to improve refrigerator efficiency by
up to 50 percent.

“Our mission is to increase energy efficiency through high-performance
insulation. Winning this substantial prize enables us to more
effectively promote our product to manufacturers so they can design more
efficient refrigerators, which can reduce our nation’s electricity use
and carbon emissions,” said Ian Dailey, President of Husk Insulation.

Husk Insulation was selected by prominent judges out of over one hundred
initial entrees for the product’s energy savings impact and market
potential as well as the teams’ competitive advantage. With roughly 11
million refrigerators sold each year in the U.S., potential energy
savings is significant. The team plans to ultimately promote the husk
insulation to the housing and transportation markets.

“In most homes, the refrigerator is the second-largest electricity
consuming appliance, after the air-conditioner. We are thrilled the
winner of this competition may have a hand in the development of more
efficient models for our customers,” said Tom May, Chairman, President
and CEO of NSTAR, the largest Massachusetts-based electric and gas
utility company and major competition sponsor. “Energy efficiency is the
ultimate renewable resource, saving money as it protects the
environment.”

The MIT Clean Energy Prize provides capital resources and mentoring to
help clean energy entrepreneurs jump-start businesses. “This year, the
competition has really taken hold as the premier clean energy
entrepreneurship competition in the nation, with entries from over 40
colleges and universities,” said MIT Clean Energy Prize Chairman Bill
Aulet. “The quality of entries and the significant level of sponsorship
indicate strong support for energy innovation and is the vision that
MIT, NSTAR and the U.S. DOE had when the competition was founded.”